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This is an obsolete version of the rule. Please click on the rule number to view the current version.

23.16.122    LOAN EVALUATION

(1) The department will evaluate a transaction to determine if it is a loan using standards in the uniform commercial code, the internal revenue code and generally accepted commercial lending practices. Loans will also be evaluated in the context of overall financing of the business to determine that a loan rather than an ownership interest exists and that the contract does not grant the lender control of the licensed operation.

History: 23-5-115, MCA; IMP, 23-5-115, 23-5-118, 23-5-176, MCA; NEW, 1997 MAR p. 404, Eff. 2/25/97.

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